New Perspective for Recreational Use

The picture displays the obvious correlation between poorly produced marijuana vs. very potent marijuana

Taken from google

California economy adds another promising industry that is expected to be a six and half billion-dollar industry by 2020. KQED public radio host, Michael Krasny, along with four marijuana experts located around the bay area, shares a podcast forum called, California Businesses Seeing Green in Legal Marijuana and Prop. 64, inviting eager marijuana listeners to see the economical push and pull factors that the marijuana industry may go through in the next few years. While the podcast covered a lot on the economic aspect of marijuana, I was able to learn more detail on small and upcoming businesses, marijuana tax and revenue, and investors looking to succeed in the marijuana industry.

Small businesses and people looking to produce marijuana worry that their businesses will be shut down due to prop 64. A listener and admitted ex-marijuana grower asks the show hosts if prop 64 allows people who have a past felony, be able to participate in the marijuana industry. Bow Kilmer, co-director of a drug policy center and marijuana expert, replies that people who want to enter the industry but are afraid to because of their criminal record can still appeal for a marijuana-growing license and attend expungement clinics to remove felonies on their record. Although this may bring ex-convicts back into the industry, I strongly disagree on how State and local governments can do to check if these people can grow marijuana legally.

Congress and State governments continue to work on the flexibility of marijuana taxation. David Downes, a reporter and expert on marijuana issues, says currently the tax on retail marijuana is 15% and for every ounce of bud, $9.25 is to be added. Downes continues and disagrees with this form of taxation because the tax is targeting the weight of the marijuana and not by its potency. Downes brings up a interesting point proving that tax should be implemented on how strong the marijuana THC levels are. I agree with Downes on this point because the price of a product should be regulated by the quality of that product, and we see this with all the things consumers buy.

The marijuana industry surprisingly has a variety of investors seeking to capitalize on the new industry. Emily Poxia, executive director of California Asset Management, mentions that lawyers, entrepreneurs, and investors in Silicon Valley are not only funding for the recreational use of marijuana due to its encouraging revenue, but for its promising medicinal research and advancement in technology. As marijuana becomes more of an accepted ideal to many people in California, I feel investing in the medicinal side of marijuana can help further improve research and ultimately those who need it the most. Poxia also mentions that researchers have proven that hemp, the leaf of the marijuana plant, has over 25,000 different uses that may benefit medicinal, technological, and social purposes.

All in all, the prohibition of marijuana will remain as a long and tedious process in the next decades or so. However, as State and Federal governments begin to value what marijuana can provide people, the government can begin to excel economically.